There is much truth in this, although I think that holds to short-term results when looking at mining companies (agree with you on the other categories).
In the longer term though commodity prices do reflect supply and demand characteristics and history repeatedly shows buying - and selling - positions.
Some commodities clearly have superior outlook to others in terms of supply side characteristics.
Shocker today for BSL after a great run.
Chart - nearly time for BSL to break out of dip?, page-46
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Last
$20.28 |
Change
-0.150(0.73%) |
Mkt cap ! $8.948B | |||
| Open | High | Low | Value | Volume |
| $20.35 | $20.43 | $20.14 | $12.34M | 608.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 1795 | $20.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.28 | 1305 | 15 |
View Market Depth
| Last trade - 15.03pm 01/07/2024 (20 minute delay) ? |
| BSL (ASX) Chart |